The Netherlands Trading Society (Dutch: Nederlandsche Handel-Maatschappij N.V. or NHM) was a Dutch trading and financial company, established in 1824, in The Hague by King William I to promote and develop trade, shipping and agriculture. For the next 140 years the NHM developed a large international branch network and increasingly engaged in banking operations. In 1964, it merged with Twentsche Bank to form Algemene Bank Nederland, itself a predecessor of ABN AMRO.
"Nederlandsche Handel-Maatschappij" above the entrance to the Amsterdam Archives at the De Bazel building, built as NHM's headquarters
The NHM was a private company which issued publicly traded shares. According to the king, the NHM would act to leverage economic activity and encourage the development of national wealth. However, in practice it came down to expanding existing trade, by gathering data and searching for new markets as well as financing industry and shipping. Its close association with the Dutch government meant it played an important role in the development of trade between the Netherlands and the Dutch East Indies.[1] Its former headquarters in De Bazel in Amsterdam houses the Amsterdam Archives today.[2]
The NHM is sometimes called the successor of the Dutch East India Company or VOC, as it was also a private company that issued shares and financed trade with the Dutch East Indies. The establishment of the NHM can be seen as an attempt to bring new impetus to trade with the Dutch East Indies after the depression of the years of French domination (1795–1814), and the final collapse of the VOC two decades earlier. With playful reference to the greatness of the VOC, the NHM was colloquially known as Kompenie Ketjil or the "little company".[citation needed]
The NHM financing of trade and shipping led to the development of a network of branches which increasingly engaged in financing and banking operations. The network extended throughout South East Asia and on the trade routes between the Netherlands and the Dutch East Indies and the NHM continued to extend its network into the 20th century. It lost a number of its branches when the Indonesian government nationalised them in 1960 to form a new locally owned bank, but by then had branches in many other parts of the world.
Time lineedit
1824: King William I created the Nederlandsche Handel-Maatschappij (NHM) by Royal Decree to revive trade between the Netherlands and the Netherlands East Indies.
1826: NHM opened an office in Batavia (now Jakarta), known as De Factorij
1926: NHM opened a branch in Jeddah, Saudi Arabia. Known later as the Saudi Hollandi Bank (currently Alawwal Bank), it was the first, and until 1948 the only, commercial bank in the Kingdom. The branch existed to serve the needs of Indonesian Muslims coming to perform Hajj, the pilgrimage to Mecca
1934: Financial restructuring; NHM reduces its capital by 75 percent
1936: NHM initiates a retail presence in the Netherlands beyond its previous branches in Amsterdam, The Hague, and Rotterdam, by acquiring the Guelders Credit Union (Dutch: Geldersche Credietvereeniging)
The building at Vijzelstraat 32 in Amsterdam known today as "De Bazel"is named after its architect Karel de Bazel. It was originally built in 1919–1926 for the NHM and it is decorated with many details reminiscent of Indonesia, most notably the brickwork, which earned the building the nickname "spekkoek" It was later repurposed as the Amsterdam Archives.
NHM head office building in Amsterdam, 1860, at Heerengracht 466
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The Netherlands Trading Society Dutch Nederlandsche Handel Maatschappij N V or NHM was a Dutch trading and financial company established in 1824 in The Hague by King William I to promote and develop trade shipping and agriculture For the next 140 years the NHM developed a large international branch network and increasingly engaged in banking operations In 1964 it merged with Twentsche Bank to form Algemene Bank Nederland itself a predecessor of ABN AMRO Nederlandsche Handel Maatschappij above the entrance to the Amsterdam Archives at the De Bazel building built as NHM s headquarters Contents 1 History 1 1 Time line 2 Buildings 3 See also 4 References 5 External linksHistory editThe NHM was a private company which issued publicly traded shares According to the king the NHM would act to leverage economic activity and encourage the development of national wealth However in practice it came down to expanding existing trade by gathering data and searching for new markets as well as financing industry and shipping Its close association with the Dutch government meant it played an important role in the development of trade between the Netherlands and the Dutch East Indies 1 Its former headquarters in De Bazel in Amsterdam houses the Amsterdam Archives today 2 The NHM is sometimes called the successor of the Dutch East India Company or VOC as it was also a private company that issued shares and financed trade with the Dutch East Indies The establishment of the NHM can be seen as an attempt to bring new impetus to trade with the Dutch East Indies after the depression of the years of French domination 1795 1814 and the final collapse of the VOC two decades earlier With playful reference to the greatness of the VOC the NHM was colloquially known as Kompenie Ketjil or the little company citation needed The NHM financing of trade and shipping led to the development of a network of branches which increasingly engaged in financing and banking operations The network extended throughout South East Asia and on the trade routes between the Netherlands and the Dutch East Indies and the NHM continued to extend its network into the 20th century It lost a number of its branches when the Indonesian government nationalised them in 1960 to form a new locally owned bank but by then had branches in many other parts of the world Time line edit 1824 King William I created the Nederlandsche Handel Maatschappij NHM by Royal Decree to revive trade between the Netherlands and the Netherlands East Indies 1826 NHM opened an office in Batavia now Jakarta known as De Factorij 1858 NHM opened a branch in Singapore 1870s NHM expands its overseas activities into banking 1888 NHM opened a branch in Penang 1902 NHM starts banking operations in the Netherlands 1906 NHM opened a branch in Hong Kong 3 1920 NHM opened branches in Bombay Mumbai and Calcutta Kolkata primarily to work with clients in the diamond business 1926 NHM opened a branch in Jeddah Saudi Arabia Known later as the Saudi Hollandi Bank currently Alawwal Bank it was the first and until 1948 the only commercial bank in the Kingdom The branch existed to serve the needs of Indonesian Muslims coming to perform Hajj the pilgrimage to Mecca 1934 Financial restructuring NHM reduces its capital by 75 percent 1936 NHM initiates a retail presence in the Netherlands beyond its previous branches in Amsterdam The Hague and Rotterdam by acquiring the Guelders Credit Union Dutch Geldersche Credietvereeniging 1941 NHM opened an agency in New York City 1948 NHM opened a branch in Karachi to become the first foreign bank to receive a banking license from the new government of Pakistan 1949 NHM acquired De Surinaamsche Bank 1951 NHM opened branches in Mombasa Kenya and Dar es Salaam Tanganyika 1954 NHM opened a branch in Beirut Lebanon and one in Kampala Uganda 1959 The Indonesian government nationalized NHM s plantations 1960 The Indonesian government nationalized NHM s banking operations into Bank Ekspor Impor Indonesia later Bank Mandiri 1963 NHM set up its Malaysian head office in Kuala Lumpur 1964 NHM merged with De Twentsche Bank to form Algemene Bank Nederland ABN Buildings editThe building at Vijzelstraat 32 in Amsterdam known today as De Bazel is named after its architect Karel de Bazel It was originally built in 1919 1926 for the NHM and it is decorated with many details reminiscent of Indonesia most notably the brickwork which earned the building the nickname spekkoek It was later repurposed as the Amsterdam Archives nbsp NHM head office building in Amsterdam 1860 at Heerengracht 466 nbsp The same building in 2011 nbsp De Bazel built in 1919 1926 nbsp Former NHM branch in Rotterdam now Blaak House office center nbsp Former NHM branch in The Hague now Raad van Discipline nl nbsp NHM branch in Jakarta circa 1955 nbsp The same building in 2017 as Mandiri Museum nbsp NHM branch in Weltevreden Batavia now Sawah Besar Central Jakarta nbsp NHM branch in Surabaya East Java nbsp NHM branch in Medan North Sumatra nbsp NHM branch in Semarang Central Java nbsp Former NHM branch in Penang Malaysia nbsp NHM branch in Queen s Building Hong Kong 1908 nbsp Former NHM branch in Shanghai from 1919 to 1951 previously office of German trading house Carlowitz amp Co expropriated in 1917See also editBank Indonesia formerly Bank of Java Nederlandsch Indische Handelsbank Nederlandsch Indische Escompto Maatschappij Nederlandsch Indische Levensverzekerings en Lijfrente Maatschappij HSBC Banque de l IndochineReferences edit Dutch explanation of building permanent dead link in Amsterdam Archives Amsterdam Archives Archived 2009 06 14 at the Wayback Machine Eastern Daily Mail 8 Mar 1906 External links editDocuments and clippings about Netherlands Trading Society in the 20th Century Press Archives of the ZBW Retrieved from https en wikipedia org w index php title Netherlands Trading Society amp oldid 1169817541, wikipedia, wiki, book, books, library,
